Developed in-house over the past two years, MetaScale makes a cloud-based technology to help businesses analyze "big data" -- that which is too large and complex for the current generation of database technology.

MetaScale is used for all Sears Holdings businesses, including Kmart, Lands End and Sears, and the company is seeking to make money with it by marketing the technology to other firms, said spokesman Tom Aiello. "Now that we built it we realize that a lot of companies were struggling with how to deal with 'big data,' " said Aiello.

Aiello said MetaScale had a "few" clients and can be tailored to "all industries." However, he declined to say how much Sears invested in developing the technology or how much revenue it has generated.

The announcement was met with some criticism of the company, which has posted a $2.4 billion quarterly net loss and a 19th consecutive quarter of declining sales.

According to a Bloomberg News report, Sears is jumping into a "highly competitve field" at a time when its retail business is challenged. "Doesn't Sears have enough problems competing with retailers?" Erik Gordon, a professor at the University of Michigan's Ross School of Business said to Bloomberg News.

Aiello dismissed the criticism. "In emerging areas such as this, you can create a competitive advantage ... by having an edge on something like this," said Aiello. "We wouldn't have started the venture unless we recognized there was (an opportunity) around big data."

Other local firms are active in the data analytics field. In 2009, SPSS was acquired by IBM for $1.2 billion and late last year, Northbrook-based firm Mu Sigma firm raised $108 million in capital.